Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Intercontinental Exchange has significantly expanded its footprint in India through a long-term lease of nearly 2 lakh sq ft of office space in Pune's Magarpatta Cybercity, signalling confidence in the city as a strategic hub for global capability centres (GCCs). The space spans nine floors in Tower S3 and will serve as a Global Capability Centre for ICE Mortgage Technology India, supporting product engineering, technology operations and back-end services for its global platforms. The lease includes a monthly rental of INR 1.73 crore with periodic escalation clauses and underscores the broader trend of multinational firms choosing Pune for scalable, large-format office campuses. The move reinforces Pune's growing stature among India's leading cities for corporate office demand and technology-led real estate growth.
Intercontinental Exchange, a global operator of market infrastructure, technology platforms and data services, has expanded its physical presence in India by securing a substantial office lease in Pune, reinforcing the city's emergence as a key destination for global capability centres (GCCs). The transaction was executed through its subsidiary ICE Mortgage Technology India with a long-term lease of approximately 193,053 sq ft in Magarpatta Cybercity. Advertisement
The leased space is spread across nine floors in Tower S3 of the business park, covering the lower ground floor, upper ground floor and levels one to seven. The office will serve as the company's new Global Capability Centre, focusing on product engineering, technology services, data management and back-end operations to support ICE's global platforms. The facility is expected to leverage Pune's deep talent pool and competitive operating costs while enabling scale and operational efficiency within the company's global delivery model.
Under the terms of the lease, the monthly rent has been fixed at INR 1.73 crore, with an escalation clause of 15 per cent every three years, reflecting confidence in the underlying asset and long-term demand fundamentals for large office spaces in the micro-market. A security deposit of around INR 10.42 crore has been paid as part of the lease arrangement with the lessor, Axis Max Life Insurance.
Pune has been gaining prominence on the commercial real estate map, with multinational corporations increasingly choosing it for GCC openings, technology hubs and engineering centres. Its advantages include a well-educated workforce, relatively lower operating costs compared with traditional tech hubs, and well-developed business districts such as Magarpatta Cybercity, Hinjewadi and Kharadi. Demand for large-format office space from global occupiers has been a key driver of leasing activity, contributing to the city's robust absorption trends within India's office market.
The Intercontinental Exchange lease underscores a broader shift in India's office leasing landscape, where GCC-driven demand continues to underpin demand for Grade-A commercial space. As multinational firms deepen their investment in India's talent and technology sectors, Pune's strategic position within the GCC ecosystem is likely to attract further leasing interest, supporting long-term office market growth.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
